Key Points
- Director Katherine Lee Scherping sold 6,845 Turtle Beach shares on May 27 at an average price of $13.10, totaling about $89,670. After the sale, she still held 24,254 shares.
- This was part of a recent pattern of insider selling, including additional sales of 2,000 shares on May 29 and a much larger 19,902-share sale in March.
- Turtle Beach reported a quarterly EPS miss, posting earnings of $(0.78) per share versus the expected $(0.43), even as the stock rose 1.9% and analysts maintained a consensus Hold rating with a $16.80 price target.
Turtle Beach Corporation (NASDAQ:TBCH - Get Free Report) Director Katherine Lee Scherping sold 2,000 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $13.25, for a total transaction of $26,500.00. Following the sale, the director directly owned 22,254 shares of the company's stock, valued at $294,865.50. This represents a 8.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Katherine Lee Scherping also recently made the following trade(s):
- On Wednesday, May 27th, Katherine Lee Scherping sold 6,845 shares of Turtle Beach stock. The shares were sold at an average price of $13.10, for a total transaction of $89,669.50.
- On Monday, March 23rd, Katherine Lee Scherping sold 19,902 shares of Turtle Beach stock. The shares were sold at an average price of $11.62, for a total transaction of $231,261.24.
- On Friday, March 20th, Katherine Lee Scherping sold 98 shares of Turtle Beach stock. The shares were sold at an average price of $11.50, for a total transaction of $1,127.00.
Turtle Beach Price Performance
Turtle Beach stock opened at $13.04 on Friday. The stock has a market capitalization of $258.80 million, a price-to-earnings ratio of 434.67, a PEG ratio of 1.13 and a beta of 2.26. Turtle Beach Corporation has a 52-week low of $9.84 and a 52-week high of $17.39. The stock's 50 day moving average price is $11.29 and its two-hundred day moving average price is $12.58. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.12 and a current ratio of 2.46.
Turtle Beach (NASDAQ:TBCH - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.43) by ($0.35). The business had revenue of $42.17 million for the quarter. Turtle Beach had a return on equity of 1.31% and a net margin of 0.40%. On average, equities analysts predict that Turtle Beach Corporation will post 0.71 earnings per share for the current year.
Hedge Funds Weigh In On Turtle Beach
Large investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in shares of Turtle Beach by 87.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,988 shares of the company's stock worth $48,000 after purchasing an additional 1,392 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Turtle Beach in the 2nd quarter worth $76,000. New York State Common Retirement Fund bought a new position in shares of Turtle Beach in the 2nd quarter worth $81,000. AlphaQuest LLC lifted its holdings in shares of Turtle Beach by 44.9% in the 3rd quarter. AlphaQuest LLC now owns 5,461 shares of the company's stock worth $87,000 after purchasing an additional 1,693 shares in the last quarter. Finally, JPMorgan Chase & Co. bought a new position in shares of Turtle Beach in the 2nd quarter worth $99,000. 67.01% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms have issued reports on TBCH. B. Riley Financial cut their price target on Turtle Beach from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Tuesday, March 10th. Wedbush cut their price target on Turtle Beach from $14.00 to $11.00 and set a "neutral" rating on the stock in a report on Monday, March 16th. Oppenheimer restated an "outperform" rating and set a $18.00 price target (down from $20.00) on shares of Turtle Beach in a report on Friday, March 13th. Weiss Ratings cut Turtle Beach from a "hold (c-)" rating to a "sell (d)" rating in a report on Monday, May 11th. Finally, Zacks Research upgraded Turtle Beach from a "strong sell" rating to a "hold" rating in a report on Wednesday, February 4th. Four investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.80.
Check Out Our Latest Analysis on TBCH
About Turtle Beach
(
Get Free Report)
Turtle Beach Corporation (NASDAQ:TBCH) is a global developer, manufacturer and distributor of gaming audio peripherals, specializing in headsets, microphones and audio accessories for PC, console and mobile platforms. The company's product lineup spans wired and wireless gaming headsets, mixing stations, sound cards and accessories designed to enhance the immersive experience for casual and professional gamers alike.
Founded in 1975 and headquartered in San Diego, California, Turtle Beach has built a longstanding reputation in audio innovation.
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